Which of the following statements about price elasticity of demand is not true? Choose all that apply. ✔It is very small when there are good substitutes available for consumers It usually increases over time for a given good. It is positive because price and quantity demanded move in opposite directions It is smaller for broccoli than for all food considered as a group. It is likely to be very small for a Covid-19 vaccine among the elderly.

Which of the following statements about price elasticity of demand is not true? Choose all that apply. ✔It is very small when there are good substitutes available for consumers It usually increases over time for a given good. It is positive because price and quantity demanded move in opposite directions It is smaller for broccoli than for all food considered as a group. It is likely to be very small for a Covid-19 vaccine among the elderly.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 10PA

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